ROI Corporation Brokers Sale of Morris HVAC in Ipswich

2/20/18


Left to right Brian Schmitt, Russ Hancock, Tim Morris and ROI president Gary Rayberg

Morris Heating and Air Conditioning, a long established HVAC company serving residential and commercial clients on Boston’s North Shore since 1998, has new owners. Rockland-based ROI Corporation, a team of business brokers, represented seller Tim Morris in the transaction.

Morris, the company’s founder and president, will remain with the company to assist new owners Russ Hancock and Brian Schmitt in guiding the company into the future. This will insure that customers will receive the same excellent service they have become accustomed to,” said Morris.

It is anticipated that all current employees will remain on board and the company has plans for continued growth.

Morris said he is elated about the future and feels “the new owners will grow the company while maintaining excellent employee practices and customer service”.

The new owners bring a solid business background to the management of Morris and are very excited to get to work and make improvements where needed.

Gary Rayberg of ROI commented that “This was a perfect match where both parties are great people and the benefit of that will go to the employees and customers of Morris HVAC”.

Dwight Feeney of Enterprise Bank provided the financing. Tim Morris was represented by attorney Marc Clerc ) http://www.clercandassociates.com/) and Hancock and Schmitt were represented by attorney Eric Sigman http://laredosmith.com/attorneys/eric-sigman/.

Morris was represented in the transaction by Gary Rayberg, president of ROI Corporation who are Business Brokers.

About ROI Corporation

ROI Corporation, based in the Boston market, has been involved in the sale of businesses and real estate in over 30 states since 1997. They also assist in the transfer of business ownership between generations and to key employees and management teams. ROI serves all of New England including MA, NH, RI and CT with two divisions; a main street division serving smaller businesses as well as their middle market M&A division. Their Marietta, Georgia, office, specializing in Service Distribution & Manufacturing Companies, serves the southeast United States. They also have an office in Simsbury, Connecticut. For more information, please visit us on the web at www.roimergers.com or call (781) 682-6209.

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